Company / Trust set up + service

Setting up a Company is not for the faint-hearted. Is the business name you want available? Are your shares beneficially held, or not? What business address can you use if you’re trading online?

It’s overwhelming but it doesn’t need to be. With this service, we:

• Make sure you apply for a Director Identification Number (DIN)
• Gather your details via electronic form
• Find out whether we need to register an ABN, TFN, GST (recommended) and PAYGW (if you expect to have employees soon)
• Complete and lodge all ASIC forms to create your company
• Provide completed forms for your records
• Provide a handy electronic pack of documents to use when setting up Company bank accounts
• Provide a standard Company Constitution (if you need a more complex one, we know startup-friendly lawyers who will help)

We work with Prime Company Compliance – a specialist corporate services technology provider – who are directly wired into ASIC to make this service highly efficient.

Our fee:

• $500 + GST
• $0 for any ABN, TFN, GST or PAYG registrations when done as part of the initial Company set up
  (if not done then, an additional $100 fee applies + any ASIC fees)

ASIC’s registration fees also apply, including a one-off Company Registration Fee ($538 as at 1 July 2022).

Your ongoing obligations

Once your Company is set up, all officeholders have legal obligations under the Corporations Act 2001 and there are non-negotiable ASIC penalties if you don’t comply. Your obligations include annual reporting requirements and the need to notify ASIC of any Director, address or other changes within 28 days. We can manage this for you via our $20/month Core ASIC Service.

Your Company also has obligations to the ATO, including lodging Quarterly Activity Statements (for GST and PAYG) and Annual Company Tax Returns. Funnily enough, we handle those too 😉.

Questions?

If you have questions about this service, please choose a time that suits to talk.

This service is designed for founders/business owners who want a Trust to hold shares in their Company (instead of them personally holding shares). Why? Because then the Trust receives your shareholder payments, and can distribute the money among its members (e.g. you and your family) to provide options and different tax treatments.

Similar to setting up a Company, establishing a Trust can be time consuming and overwhelming but we can manage it for you. With this service we:

• Gather your details via electronic form, including who will fulfill the various Trust roles
• Provide completed forms for your records, and for you to lodge with your state revenue office
• Provide a default Discretionary Trust Deed – appropriate for most shareholding and allows for current + future beneficiaries (if you need it to be more customised, we can refer you to startup-friendly lawyers)

Our fee:

• $500 + GST

Your ongoing obligations

Once your Trust is set up, you’ll have annual obligations to the ATO, including lodging a Trust tax return each year (we can help with that, too).

Questions?

If you have questions about this service, please choose a time that suits to talk.

Your Company is all set up – congratulations! It also means you’ve entered an ongoing relationship with ASIC because all Company officeholders must comply with the Corporations Act 2001. If you don’t, there are non-negotiable ASIC penalties that can escalate over time.

So make sure you understand your legal obligations, and consider if you’d like us to help you manage them.

With this service we:

• Work with Prime Company Compliance – a specialist corporate services technology provider – to monitor your ASIC obligations each month
• Notify you of your ASIC Annual Review and send you the documents for electronic signing before the annual deadline
• Lodge your annual ASIC statement and solvency resolution
• Make unlimited changes to Director and address changes (which must be within 28 days of the change to avoid an ASIC penalty)

Our fee:

• $20/month + GST

ASIC will directly charge you an annual renewal fee (approx. $260).

ASIC fees might also apply for changing Company details, such as Company name.

Questions?

If you have questions about this service, please choose a time that suits to talk.

Did you know that if your Company issues shares, or if shareholdings change, you need to notify ASIC within 28 days (or face non-negotiable fines)?

We can handle this for you, so you can get back to work that shareholders actually want you to do!

With this service we:

• Complete your shareholder resolution and relevant ASIC form ready for you to electronically sign
• Lodge the required ASIC documentation 
• Provide you an updated member register to check against your cap table (which we’ll check for you if you provide it when you notify us of changes)
• Provide you a share certificate to send shareholders
• Provide you an updated ASIC company extract once lodgement is confirmed

Our fee:

• $50/change + GST
• Or discuss a set price if you have a larger volume of shareholder changes

Note that ASIC regulations can sometimes be a little… peculiar, such as requiring hard copy signatures and form lodgements. Where additional effort/costs are required, we’ll need to pass these on but will always talk to you about it first.

Questions?

If you have questions about this service, please choose a time that suits to talk.